EGLE Stock Recent News

Eagle Bulk Shipping (EGLE) came out with quarterly earnings of $1.13 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $4.98 per share a year ago.

While current dry bulk shipping charter rates are nothing to write home about, leading containership lessors Costamare and Danaos Corporation recently made moves to enter the space. Castor Maritime recently joined Danaos Corporation by taking a significant stake in competitor Eagle Bulk Shipping. I believe shareholders would have been way better off if Castor Maritime had repurchased its own common shares at the current 90%+ discount to net asset value.

STAMFORD, Conn., June 30, 2023 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NYSE: EGLE) (“Eagle Bulk”, “Eagle”, or the “Company”), one of the world's largest owner-operators within the midsize drybulk vessel segment, announced today that it will report its financial results for the second quarter ending June 30, 2023, after the close of stock market trading on August 3, 2023. Members of Eagle's senior management team will host a call at 8:00 a.m. ET on Friday, August 4, 2023 in order to discuss company results and provide an update on market fundamentals.

Eagle Bulk Shipping is trading at a trailing 12-month yield of 9.6%. Eagle Bulk Shipping is a US-based corporation (incorporated in the Marshall Islands) with no related party transaction problems and very low debt. Eagle Bulk Shipping is trading well below reasonable liquidation value, which is probably north of $60 a share.

Eagle Bulk Shipping Inc. surprisingly announced it is repurchasing all shares held by Oaktree Capital Management at a large premium to prevailing valuations in the dry bulk shipping space. The transaction has likely been negotiated in response to ongoing share accumulation by leading Greece-based containership lessor Danaos Corporation. In addition, Eagle Bulk Shipping disclosed the adoption of a new shareholder rights plan, also known as a "poison pill," which would be triggered in case Danaos Corporation accumulates additional shares.

Eagle Bulk Shipping's shares are down by almost 20% since my recommendation three months ago due to a precipitous decline in dry bulk charter rates in recent weeks. The company reported seasonally weak Q1 results but provided an improved outlook for Q2 with the dividend likely to benefit from an up to $17.0 million gain on vessel sales. Upsized credit facility provides additional financial flexibility.

For investors who seek regular cash flows, blue-chip dividends stocks are excellent options for a portfolio. The combination of a low-beta, regular dividend growth, and the possibility of capital gains makes these stocks attractive.

Eagle Bulk Shipping (EGLE) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of a loss of $0.03 per share. This compares to earnings of $3.97 per share a year ago.

STAMFORD, Conn., April 04, 2023 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NYSE: EGLE) (“Eagle Bulk”, “Eagle”, or the “Company”), one of the world's largest owner-operators within the midsize drybulk vessel segment, announced today that it will report its financial results for the first quarter ending March 31, 2023, after the close of stock market trading on May 4, 2023. Members of Eagle's senior management team will host a call at 8:00 a.m. ET on Friday, May 5, 2023 in order to discuss company results and provide an update on market fundamentals.

Eagle Bulk Shipping Inc. (NYSE:EGLE ) Q4 2022 Earnings Conference Call March 3, 2023 8:00 AM ET Company Participants Gary Vogel - Chief Executive Officer Frank De Costanzo - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Ben Nolan - Stifel Liam Burke - B Riley Greg Lewis - BTIG Operator Good day and thank you for standing by. Welcome to the Eagle Bulk Shipping Fourth Quarter 2022 Earnings Call.